The triangle pattern is one of my favourite patterns in the Forex Market. It is very easy to trade and it is highly effective! Today I will show you exactly how you can take advantage of this market formation.
The triangle pattern is very common – it usually occurs inbetween trends and signals consolidation on the market. Often when you see the triangle formation it means that traders are uncertain of where the currency pair is going to go next.
A good trading strategy for the triangle is an impulse strategy which combines both a BUY-STOP and a SELL-STOP order. Watch the video for more..
Note: this video is part of the Forex Trading A-Z course